{"id":673390,"date":"2025-01-10T11:00:59","date_gmt":"2025-01-10T11:00:59","guid":{"rendered":"https:\/\/uniquehot.com\/?p=673390"},"modified":"2025-01-09T18:39:39","modified_gmt":"2025-01-09T18:39:39","slug":"ethereum-analyst-says-7000-target-is-looming-as-price-retests-crucial-level","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-analyst-says-7000-target-is-looming-as-price-retests-crucial-level\/","title":{"rendered":"Ethereum: Analyst Says $7,000 Target \u2018Is Looming\u2019 As Price Retests Crucial Level"},"content":{"rendered":"

Ethereum (ETH) has seen an over 10% correction from the New Year highs amid the market retrace, recently falling below the $3,300 support. Despite the ongoing pullback, some analysts remain optimistic about ETH\u2019s Q1 performance, suggesting new highs are around the corner.<\/p>\n

Related Reading: Bitcoin Eyes Potential Rebound To $98,600, But Analyst Suggests Caution<\/a><\/div>\n

Ethereum Forming Bullish Pattern<\/h2>\n

Ethereum shredded<\/a> its New Year gains today after falling below the $3,320 mark. Following the market retrace, the second-largest cryptocurrency by market capitalization saw a 14% drop from its Monday high of $3,744 to below the $3,300 support.<\/p>\n

During the start-of-year rally, ETH\u2019s price recovered<\/a> 20% from the correction\u2019s lows, surging to pre-retrace levels for the first time in nearly three weeks. However, the market pullback, which saw Bitcoin fall 7.2% in 24 hours, sent Ethereum to the $3,210 level on Thursday morning. The $3,200-$3,300 price range served as a key support zone for ETH throughout December.<\/p>\n

After its recent performance, several analysts have suggested the cryptocurrency is forming an important reversal pattern, which could send ETH\u2019s price to new highs. On Wednesday, crypto analyst Rekt Capital noted<\/a> that Ethereum is forming a multi-month inverse Head and Shoulders pattern in the 1M timeframe.<\/p>\n

To the analyst, \u201cit\u2019s clear\u201d that the $3,650-$3,760 area is \u201ca major region of resistance, developing just below the $4,000, with price forming that resistance at a Lower High which could act as a Neckline to the pattern.\u201d<\/p>\n

\"Ethereum\"
Inverse Head and Shoulders pattern forming on ETH’s chart. Source: Rekt Capital<\/figcaption><\/figure>\n

He stated that \u201cits terminus point is at the psychological level of $3,000,\u201d adding that \u201cany pullback close to the $3,000 level could see Ethereum develop a right shoulder.\u201d<\/p>\n

Similarly, As Ethereum dropped to the low of the key $3,200 range, Miky Bull highlighted<\/a> the same pattern, hinting that the $7,000 target \u201cis looming.\u201d According to the chart, ETH\u2019s price could see an 87.53% increase near the $7,400-$7,500 price range, based on the bullish setup.<\/p>\n

No More \u2018Major Retraces\u2019 For ETH?<\/h2>\n

Crypto analyst Ali Martinez also shared<\/a> his view on the bullish pattern, asserting a downswing to $2,900 \u201cwill be very bullish\u201d for ETH. The analyst argued it would create \u201can excellent buy-the-dip opportunity to target $7,000 next!\u201d<\/p>\n

However, it\u2019s worth noting that the bullish pattern would be invalidated if Ethereum falls<\/a> below $2,800, where the left shoulder formed.<\/p>\n

Meanwhile, another market watcher shared<\/a> the similarities between ETH\u2019s performance at the start of 2024 and 2025, highlighting the King of Altcoins falling below its yearly opening during January 2024 before climbing up the following month.<\/p>\n

Related Reading: \u2018ADA Wave Is Coming\u2019: Cardano Whales Go On Buying Spree As Price Attempts Breakout<\/a><\/div>\n

He stated, \u201cI think it’s really important not to conflate a few days of red price action with high time frame bias. I am firmly of the opinion that this is a yearly open shakeout after some overly eager participants levered up too big, too early. I am very bullish on H1 2025.\u201d<\/p>\n

Analyst Crypto Wolf considers<\/a> there will likely be \u201clittle to no downside left,\u201d suggesting that ETH could retrace another 4% to 7% maximum before it aims for all-time high (ATH) levels.<\/p>\n

As of this writing, ETH is trading at $3,255, a 2.15% decrease in the daily timeframe.<\/p>\n

\"Ethereum,
Ethereum’s performance in the one-week chart. Source: ETHUSDT on TradingView<\/a><\/figcaption><\/figure>\n
Featured Image from Unsplash.com, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Ethereum (ETH) has seen an over 10% correction from the New Year highs amid the market retrace, recently falling below the $3,300 support. Despite the ongoing pullback, some analysts remain optimistic about ETH\u2019s Q1 performance, suggesting new highs are around the corner. Related Reading: Bitcoin Eyes Potential Rebound To $98,600, But Analyst Suggests Caution Ethereum Forming Bullish Pattern Ethereum shredded its New Year gains today after falling below the $3,320 mark. Following the market retrace, the second-largest cryptocurrency by market capitalization saw a 14% drop from its Monday high of $3,744 to below the $3,300 support. During the start-of-year rally, ETH\u2019s price recovered 20% from the correction\u2019s lows, surging to pre-retrace levels for the first time in nearly three weeks. However, the market pullback, which saw Bitcoin fall 7.2% in 24 hours, sent Ethereum to the $3,210 level on Thursday morning. The $3,200-$3,300 price range served as a key support zone for ETH throughout December. After its recent performance, several analysts have suggested the cryptocurrency is forming an important reversal pattern, which could send ETH\u2019s price to new highs. On Wednesday, crypto analyst Rekt Capital noted that Ethereum is forming a multi-month inverse Head and Shoulders pattern in the 1M timeframe. To the analyst, \u201cit\u2019s clear\u201d that the $3,650-$3,760 area is \u201ca major region of resistance, developing just below the $4,000, with price forming that resistance at a Lower High which could act as a Neckline to the pattern.\u201d He stated that \u201cits terminus point is at the psychological level of $3,000,\u201d adding that \u201cany pullback close to the $3,000 level could see Ethereum develop a right shoulder.\u201d Similarly, As Ethereum dropped to the low of the key $3,200 range, Miky Bull highlighted the same pattern, hinting that the $7,000 target \u201cis looming.\u201d According to the chart, ETH\u2019s price could see an 87.53% increase near the $7,400-$7,500 price range, based on the bullish setup. No More \u2018Major Retraces\u2019 For ETH? Crypto analyst Ali Martinez also shared his view on the bullish pattern, asserting a downswing to $2,900 \u201cwill be very bullish\u201d for ETH. The analyst argued it would create \u201can excellent buy-the-dip opportunity to target $7,000 next!\u201d However, it\u2019s worth noting that the bullish pattern would be invalidated if Ethereum falls below $2,800, where the left shoulder formed. Meanwhile, another market watcher shared the similarities between ETH\u2019s performance at the start of 2024 and 2025, highlighting the King of Altcoins falling below its yearly opening during January 2024 before climbing up the following month. Related Reading: \u2018ADA Wave Is Coming\u2019: Cardano Whales Go On Buying Spree As Price Attempts Breakout He stated, \u201cI think it’s really important not to conflate a few days of red price action with high time frame bias. I am firmly of the opinion that this is a yearly open shakeout after some overly eager participants levered up too big, too early. I am very bullish on H1 2025.\u201d Analyst Crypto Wolf considers there will likely be \u201clittle to no downside left,\u201d suggesting that ETH could retrace another 4% to 7% maximum before it aims for all-time high (ATH) levels. As of this writing, ETH is trading at $3,255, a 2.15% decrease in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":576067,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[428,1119,26263,93285,93167,10923,93291,89756,8323,1946,84133,78803,57191],"class_list":["post-673390","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-bitcoin","tag-btc","tag-crypto-analyst","tag-crypto-bull-run-2025","tag-crypto-investor","tag-crypto-market","tag-crypto-market-correction","tag-crypto-trader","tag-eth","tag-ethereum","tag-ethereum-bullish","tag-ethusdt","tag-inverse-head-and-shoulders"],"acf":[],"yoast_head":"\nEthereum: $7,000 Target \u2018Is Looming\u2019 As Price Retests Key Level<\/title>\n<meta name=\"description\" content=\"Some analysts remain optimistic about 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. 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